Fri, 00:11 15 Feb 2008 GMT17

 

Communist rebels attack Xstrata mine in Philippines
01 Jan 2008 10:46:04 GMT
Source: Reuters
MANILA, Jan 1 (Reuters) - Communist rebels in the southern Philippines attacked a mine majority owned by London-listed Xstrata Plc <XTA.L> on Tuesday and set two buildings on fire before retreating, police said.

Robert Kiunisala, a senior superintendent of police in South Cotabato province where the Tampakan mine is located, said the rebels may have attacked the facility for the non-payment of a "revolutionary tax".

He said New People's Army rebels raided the mine early on New Year's morning, firing with grenade launchers and automatic weapons. Before retreating, they set two buildings on fire and strafed a nearby army detachment.

There were no casualties, police said.

Tampakan is one of the biggest undeveloped copper resources in Southeast Asia.

Its total resources are estimated at 12.8 million tonnes of contained copper and 15.2 million ounces of contained gold. The mine is due to launch production in 2013, with annual output of 200,000 tonnes of copper and 200,000 ounces of gold.

The mine is 62.5 percent owned by Xstrata and 34 percent by Australia's Indophil Resources N.L. <IRN.AX>. (Reporting by Raju Gopalakrishnan; Editing by Jerry Norton)
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A view of the $100 million luxury resort being built by Shangri-La on the resort island of Boracay, south of Manila February 2, 2008. About 600,000 tourists came last year to ...



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